Treasury Committee grills Nikhil Rathi over FCA bonus scheme and fee hikes

Watchdog paid £23m of bonuses in March

clock • 3 min read
FCA chief executive Nikhil Rathi
Image:

FCA chief executive Nikhil Rathi

Mel Stride, chair of the Treasury Select Committee, has put the FCA's bonus scheme into question and also raised concerns over the watchdog's recent fee hike proposal for financial services firms.

"Your November fee proposals contain a significant uplift for firms' minimum fees," said Stride. "It's quite a hike, certainly in proportional terms." He also highlighted the increase in minimum...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Kwasi Kwarteng. Image: Andrew Parsons/Number 10

Mini Budget 22: Government to 'scrap' Solvency II to boost investment

Chancellor says replacing EU law with rules ‘tailor made for the UK’ will free up billions

Jonathan Stapleton
clock 23 September 2022 • 1 min read
FOS complaints figures near 73,000 in first half of 2022

FOS complaints figures near 73,000 in first half of 2022

Half-year complaints data showed uphold rate of 37% in consumers’ favour

Jenna Brown
clock 22 September 2022 • 1 min read
Why the Consumer Duty points to the emotional value of financial advice

Why Consumer Duty points to the emotional value of advice

'The emotional value of advice may be imperative and transformational'

Louis Williams
clock 21 September 2022 • 5 min read